South Korean police referred 18 Polymarket users to prosecutors in an illegal gambling probe. A total of 26 people were under investigation, having collectively wagered approximately 17.6 billion won ($12.7 million). The largest amount bet by a single user was about 5.7 billion won ($4.1 million). Authorities identified users by analyzing publicly available blockchain transactions. On Aug. 18, South Korean authorities blocked Polymarket after determining the prediction market provided an illegal gambling environment to users in the country.
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